Tag: ATO

The Australian Taxation Office (ATO) is currently targeting foreign funds transfers. Are you aware of your rights and responsibilities?

Treasurer Chris Bowen has announced that the government plans to cut $1.8bn worth of fringe benefits tax car concessions.

Each year the Australian Taxation office targets key sectors of Australian business for audit campaigns – in its Compliance in Focus 2013 notice, small businesses are among those to have drawn the short straw.

Own or operate a building or construction business that pays contractors? Under new taxation legislation you’re required to submit a Taxable Payments Annual Report to the ATO in late July.

Taking on an employee is a serious part of the business as there are many pitfalls that can bring you unstuck if the right processes are not followed. We focus on the legal aspects of hiring an employee from a tax office and superannuation stand point.

More than half of small and medium businesses are not aware of important changes to the instant asset write-off scheme, according to a recent poll.

When a company struggles, there are plenty of creditors knocking at the door. However new ATO legislation extends the personal liability of directors for unpaid super and PAYG for their staff, making them a priority in who gets paid first.

Small business owners on Queensland’s Sunshine Coast are invited to attend free one-on-one information sessions, run by the Australian Taxation Office (ATO), to assist them in staying on track with tax and super obligations.

Business owners are being invited to weigh in on how the R&D Tax Credit will be administered, with the tax now open for public consultation.

With 30 June upon us, taxpayers are looking for opportunities to reduce their tax liabilities for the fiscal year, and according to Institute of Public Accountants senior tax advisor Tony Greco, small businesses should also not overlook the cash flow benefits of tax deferral opportunities.